Domestic Abuse in High-Asset Divorces

 Posted on October 21,2014 in High Asset Divorce

Every day in this country, three women die because of domestic violence. Every year, more than 10 million women and men are victims of domestic violence—that is 20 victims per minute. One in three women and one in four men have been victims of domestic violence.

October is domestic violence awareness month. One of the things we need to be reminded about is that domestic violence does not discriminate. Victims come from every walk of life and every socioeconomic background. Even a spouse who is involved in a high-asset divorce can be a domestic violence victim.

There are steps that all domestic abuse victims need to take to get away from the abuser. It is critical to have a safety plan in place. One resource for victims is the National Domestic Violence Hotline (1-800-799-7233) which has safety advocates available 24 hours per day. Any person accessing the hotline, or any websites in an effort to formulate a safety plan, needs to be very cognizant of the fact that his or her abuser may be monitoring their phone or computer. Therefore, use devices that cannot be monitored such as a friend's phone or a library computer.

There are also steps an abused spouse can take to protect their finances in complex divorce litigation. The first step is again ensuring that there is private communication with financial advisers, banks, or any other financial institutions and attorneys. Items such as a private post office box, private email address that the other spouse knows nothing about, or a pay-as-you go cell phone can help ensure that all communications regarding the high-asset divorce will remain confidential from the abusing spouse.

The spouse who is being abused should also open up a bank account in his or her own name. It is a good idea to not open this account at the bank the couple usually uses. This account can be utilized to deposit paychecks, as well as any other assets the abused spouse is able to safely transfer. Obtaining at least one credit card in his or her name only is also a good step to take.

If possible, before leaving—and ONLY if this can be done safely—an abused spouse should obtain copies of all important documents such as marriage and birth certificates, bank statements, tax returns, investment records, property deeds and insurance policies. All pin numbers and account passwords should be changed to something that will not be easily recognized by the other spouse.

If you are considering a divorce where there will be high asset issues, it is critical to contact an aggressive Round Rock complex divorce attorney to begin planning and strategizing to ensure you receive all that you are entitled to in your divorce settlement. Protecting your assets is essential. Call us today at 512-610-6199.